Transcendent Capital Group LLC Lowers Position in OGE Energy Corp. (NYSE:OGE)

Transcendent Capital Group LLC lessened its stake in shares of OGE Energy Corp. (NYSE:OGE) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,783 shares of the utilities provider’s stock after selling 305 shares during the period. Transcendent Capital Group LLC’s holdings in OGE Energy were worth $1,517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. BankPlus Trust Department bought a new position in shares of OGE Energy during the 4th quarter valued at approximately $44,000. MONECO Advisors LLC purchased a new position in OGE Energy during the fourth quarter valued at approximately $310,000. JBR Co Financial Management Inc lifted its holdings in OGE Energy by 1.2% during the fourth quarter. JBR Co Financial Management Inc now owns 74,395 shares of the utilities provider’s stock valued at $3,069,000 after purchasing an additional 850 shares in the last quarter. Navellier & Associates Inc. boosted its position in shares of OGE Energy by 24.2% in the fourth quarter. Navellier & Associates Inc. now owns 23,756 shares of the utilities provider’s stock worth $980,000 after purchasing an additional 4,628 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of OGE Energy by 15.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,230,591 shares of the utilities provider’s stock worth $50,762,000 after purchasing an additional 168,323 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

OGE has been the subject of several research analyst reports. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays dropped their price objective on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

OGE Energy Stock Down 0.1 %

Shares of NYSE:OGE opened at $45.15 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $42.18 and its 200 day moving average is $41.43. The stock has a market cap of $9.08 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78. OGE Energy Corp. has a 52-week low of $32.37 and a 52-week high of $45.60.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.